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Archive by Month: December 2022

2022 Year in Review: What U.S. Taxpayers in Virginia Need to Know for 2023

Posted in News, Offshore Account Update on December 30, 2022

Each year, we publish dozens of articles on our blog discussing topics of interest to individual and corporate taxpayers in Virginia. In 2022, we covered topics ranging from Paycheck Protection Program (PPP) fraud and cryptocurrency tax evasion to the rules regarding charitable distributions and offshore bank accounts. Here are some of the highlights. Read More

Are You Eligible for Penalty Relief from the IRS?

Posted in News, Offshore Account Update on December 16, 2022

Taxpayers who fail to timely meet their obligations to the IRS can face immediate penalty liability. Penalties for late filings and payments are in addition to the interest that accrues on any taxes owed, and interest accrues on taxpayers’ penalty liability as well. Read More

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